Mercantile Bank Limited Education Loan may be availed by any student of Bangladeshi National
with excellent educational track record to provide financial assistance for furthur educational purposes like study abroad or within the country.
Eligibility:
Applicant must be enrolled as a student in Public/Private University in case of pursuing higher studies in home for undergraduate and post-graduate program.
Age Limit:
Age of the Applicant should be in between 18 to 30 years 9at the time of disbursement of loan)
Qualification:
- Holds excellent result in SSC/HSC/O-Level/A-Level or equivalent from any recognized educational instituition at home or abroad for pursuing undergraduate course in home.
- Holds excellent result in SSC/HSC/O-Level/A-Level or equivalent from any recognized educational instituition at home or abroad for pursuing post-graduate courses in home or abroad as well.
- Educational program must commensurate with the career prospect of the borrower.
Loan Limit:
For Studies in Bangladesh: Maximum Tk. 5.00 Lac
For Studies Abroad: Maximum Tk. 20.00 Lac
Expenses considered for Loan:
- Fees payable to University/College/Hostel
- Examination/Library/Laboratory Fee
- Purchase of Books/Equipments/Instruments/Uniforms
- Travel Expenses/Passage money for studies abroad
- Purchase of Computers - essentials for completion of the course
- Boarding and lodging expenses in recognized Boarding Houses/private accommodations
- Any other expense required to complete the course - like study tours, project work, thesis, etc.
Moratorium period of the loan will be depending on the duration of the courses ranging from 02(two) years to maximum 04(four) years.
Loan to be repaid within a maximum period of 7 (seven) years from the date of the first disbursement.
Payment will be made directly to the educational instituitions and reimbursement to the borrower against proper receipt.
The loan repayment installments will be fixed monthly basis.
The interest rate will be applied on floating basis.
